Argos reinvents itself to woo the affluent online

HRG said it would invest £300m to make the Argos website the primary point of contact with customersPeter Macdiarmid/Getty Images

It has been a feature of the high street since 1973 but yesterday Argos announced that it is scaling back its famously unwieldy catalogue and fiddly little pencils.

Instead, the business will refocus its efforts on chasing middle-class customers as part of its new chief’s plan for the retailer to become a “digital-led” retailer. John Walden, managing director of Argos, part of Home Retail Group, has resisted calls from the City to embark on a wholesale store closure programme. Only about 50 of its 740 stores will close over the next five years as their leases expire.

As part of his three-year, £300 million plan, Mr Walden said that 75 per cent of sales will be “digital-led” — either conducted fully online or reserved online for…